Macroeconomic effects of accelerated implementation of renewable energy technologies in the US
The original formulation of the Brookhaven energy system models was directed toward technology assessment for new and competing energy technologies. The Hudson-Jorgenson econometric model was originally formulated to identify the economic impacts of energy futures where energy-use projections departed markedly from historical trends. The two models were married so that the feedback effects of energy and nonenergy demand levels and nonenergy prices generated by the economic model could be reflected in the technology and fuel-mix-selection solutions of the energy model. In turn, the engineering-based energy costs, energy prices, and capital requirements for energy systems characterized in the energy model are used to override the econometric estimates based on historical data in the economic model. Recently, the coupled models have been used to address questions concerning the macroeconomic impacts of accelerating the implementation of renewable energy technologies in the United States. Of particular interest were the scenarios where (1) renewables were included which cost more than conventional alternatives now and in the future, and (2) some renewables that are initially more costly are characterized by a learning curve so that in time their costs come to equal conventional alternatives. A further analysis was done for the first case (renewables always more expensive) under conditions where (1) the incremental costs were paid by the government through deficit financing, and (2) the incremental costs were paid by consumers. This paper presents the formulation of the analysis using the combined energy system - economic model and the results of the study.
- Research Organization:
- Brookhaven National Lab. (BNL), Upton, NY (United States)
- DOE Contract Number:
- AC02-76CH00016
- OSTI ID:
- 5287904
- Report Number(s):
- BNL-51092
- Country of Publication:
- United States
- Language:
- English
Similar Records
Brookhaven integrated energy/economy modeling system and its use in conservation policy analysis
Study of capital requirements for solar energy. Final report, Volume 2. Appendix B: The Hudson-Jorgenson energy/economic model (Long-term interindustry transactions model): a description
Related Subjects
09 BIOMASS FUELS
29 ENERGY PLANNING
POLICY AND ECONOMY
ENERGY MODELS
ENERGY SOURCE DEVELOPMENT
ECONOMIC IMPACT
RENEWABLE ENERGY SOURCES
SOCIO-ECONOMIC FACTORS
BNL
ECONOMETRICS
IMPLEMENTATION
INPUT-OUTPUT ANALYSIS
RESOURCE DEVELOPMENT
TECHNOLOGY ASSESSMENT
ECONOMIC ANALYSIS
ECONOMICS
ENERGY SOURCES
INSTITUTIONAL FACTORS
NATIONAL ORGANIZATIONS
US AEC
US DOE
US ERDA
US ORGANIZATIONS
130100* - Hydro Energy- Resources & Availability
140504 - Solar Energy Conversion- Biomass Production & Conversion- (-1989)
299000 - Energy Planning & Policy- Unconventional Sources & Power Generation
290100 - Energy Planning & Policy- Energy Analysis & Modeling
290200 - Energy Planning & Policy- Economics & Sociology